Hours before Brandon Johnson was sworn in as Chicago’s 57th mayor, CME Group CEO Terry Duffy warned that the huge trading complex containing the Chicago Board of Trade and the Chicago Mercantile Exchange would consider moving out of Chicago. Duffy, speaking on Bloomberg’s Odd Lots podcast, was responding to campaign rhetoric from then-candidate Johnson that he would impose a tax on financial transactions. In the audio clip below, Duffy suggested the city would be better off by strengthening businesses, not by taxing them more. Duffy said the CME Group, years back, sold all of its properties in Illinois, could easily get out of its leases and, “If we had to leave, we could leave.”
“If we had to leave, we could leave,” says CME Group CEO Terry Duffy, responding to Mayor Brandon Johnson's suggestion that taxes be imposed on financial transactions.